U.S. National Debt Exceeds $30 Trillion For First Time Ever
The U.S. national debt rose above $30 trillion for the first time ever, according to Treasury Department. The national debt is the accumulation of the federal government’s deficits over the years. The federal government owes almost $8 trillion to foreign and international investors in Japan and China alone. The Covid-19 pandemic had a severe impact due to spikes in unemployment and stimulus payments. When former President Donald Trump entered office, the debt was already at $20 trillion but has spiraled in recent years. Federal Reserve Chairman Jerome Powell stated, “Debt is not at an unsustai...